Forex Daily Outlook – August 25 2010
Very interesting news and updates coming up today. New Home Sales in the US, Corporate Profits in Canada, Construction Work Done in Australia. Let’s see what awaits us today.
In the Us, New Home Sales, an important gauge of housing market conditions measuring the number of newly constructed homes with a committed sale during the previous month, The U.S. new home sales are forecasted to rise a bit to 340 K in July from 330 K, but considering the weak housing starts figures, this report could have the potential to disappoint.
Later in the US, Durable Goods Orders, a leading indicator of economic activity measuring durable goods orders placed with domestic manufacturers. With the US industrial production rising more that the estimates and the manufacturing sector leading the recovery, the orders for durable goods could confirm the trend with an increase of 3.0% m/m in July from the 1.2% drop in June.
More in the US, Crude Oil Inventories, the number of barrels of crude oil held in inventory by commercial firms during the past week; decreased by 7M and It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods;
Finally in the US, HPI House Price Index (HPI), the purchase price of homes with mortgages backed by Fannie Mae and Freddie Mac, decreased by 4%, a leading indicator of the housing industry’s health, rising house prices attract investors and spur industry activity.
In Canada, Corporate Profits, the total value of profits earned by corporations stabilized on 4.8% and it’s a leading indicator, businesses are quickly affected by market conditions, and changes in their earnings can be an early signal of future economic activity.
For more on USD/CAD, read the Canadian dollar forecast.
In Europe, Germany IFO Institute Business Climate and Expectations Index, a leading indicator of economic conditions and business expectations in the Euro-zone’s largest economy, The ZEW institute survey, which is a leading indicator of the German IFO, registered a larger-than-expected decline and it would not be surprising the see the same outcome for this report as the IFO index is expected to pull back to 105.5 from 106.2.
For more on the Euro, read the EUR/USD forecast and Casey Stubbs’ latest analysis.
Read more about the Pound in the GBP/USD forecast.
In Australia, Construction Work Done, the total inflation-adjusted value of construction projects completed increased by 1.1% and it’s an important gauge of the construction industry, which has a sizable impact on overall employment and spending
For more on the Aussie, read the AUD/USD forecast.
That’s it for today. Happy forex trading!
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Forex Daily Outlook – August 4 2010
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AUD/USD Outlook – August 2-6
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Forex Daily Outlook – June 22 2010
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Forex Daily Outlook – May 25 2010
US Consumer Confidence is expected to continue its rise as well as Composite-20 HPI. US, Federal Reserve Bank of St Louis President James Bullard delivers a speech in London and House Price Index is expected to rise. Let us see what awaits us today. In the US, CB Consumer Confidence is expected to continue its rise [...]
Forex Daily Outlook – May 3 2010
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AUD/USD Outlook – May 3-7
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Forex Daily Outlook – March 23rd 2010
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Forex Daily Outlook – February 25th 2010
Ben Bernanke will continue to cast his spells over the markets today, and we also have many important economic indicators from all over the world. Let’s see what’s awaiting us in this busy day in forex trading: Australia’s Private Capital Expenditure provides a strong start for the day. After a drop of 3.9% in the [...]
Forex Daily Outlook – February 1st 2010
The calendar is quite busy for a Monday: the first day of February provided many figures from all over the world, with American ISM Manufacturing PMI being the highlight. Let’s see what’s up for today: Australia starts the day with many figures: the AIG Manufacturing Index is expected to rise while the MI Inflation Gauge [...]
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